Tag Archives: Planning & Inventory Control

OBJECTIVES

Provide a clear understanding of the interdependancy between inventory control, service level, production planning and cost control. Provide the necessary techniques and practical solutions to realize optimised stock levels and well balanced production batches.

TARGET GROUP

All staff members and executives in charge of customer service, inventory control, production management or those who are preparing to take these responsibilities in the near future.

Course Outline

Introduction to inventory control

Role of stocks as buffer between unequal flows

Inventory types

Dependent vs independent demand

Cost elements of inventory control

The optimal order quantity: EOQ

The static order model

The principles of the static model

The different variables: lead time, revision, rotation, service level

The use of ABC-analysis in inventory control

The determination of the safety stock, the order level and the maximum